Jetset Travelworld has announced that they will postpone the shareholder meeting to endorse their businesses merger that was agreed many weeks ago. Qantas Business Travel and Qantas holidays were set to unite with Jetset Travelworld, the companies had scheduled a shareholder meeting which was due to be held in Melbourne tomorrow.

The board of Jetset has said that due to recent changes in the relationship between Flight Centre and Qantas, they wanted more time to update shareholders. Flight Centre will drop their wholesale provider Qantas at the end of this month; Jetset have confirmed this will not effect the economic agreements of their merger with Qantas.

A press release from Jetset stated that “A preliminary analysis indicates that the economics of the merger remain intact but the board is seeking further advice”. The travel company has said that the directors require a little time to issue an update and once this is complete the extraordinary general meeting will commence.

It has been proposed and agreed that the merger between the two companies will result in Qantas having a 58% share of Jetset’s listed stock. Jetset currently have 665 travel centers that operate over the whole of Australia.

http://www.jetset.com.au/